Yes this is the best way to do it. Also you have to check in the plugins section if one of your plugin need to be updated, after you have updated the theme. Plugins like Visual Composer is included within the theme so when you update the entire theme we also tend to update the WpBakery Visual Composer to the latest update.
Normally the System Status works ok on different hosting providers.
Adding this constants on wp-config don’t mean that you can change the hosting variables. Most hosting providers don’t let you to change the hosting variables from the shared hosting account with php config files.
